INSURANCE COMPANY.

Gisborne Times, Volume V, Issue 54, 5 March 1901, Page 3

INSURANCE COMPANY.

SUCCESS OF THE STANDARD.

By Telegraph.—Press Association. Dunedin, last night,

At the annual meeting of the Standard Insurance Company, the report, declaring a dividend of 71 per cent., and a bonus of 21. per cent., was adopted. ’Mr ,T. Bcid (Chairman), in moving the adoption of the report, said they were in a position to place £SOOO to the Deserve Fund, which will then stand at .£25,000, the amount at which it stood before the great Melbourne fire, which obliged them to fall back upon it. This fund being restored to its former position, tho Directors have scon their way to recommend, in addition to the half ■ yearly dividend of 7.v per cent., the payment of a bonus of 21- per cent. After theso appropriations, the paid -up capital and reserve will amount to .0115,000, and there will be carried forward to the' credit of the profit and loss .£6692 12s 2d, or rather over £IOOO more than last year. Tho year had not opened quite so favorably as last year. Considerable property in Australia and New Zealand had been destroyed by fire. The company had had its share, but at the same time it was fortunate. The premium income exceeded that of the previous year by £4706, The ratio of the return from interest is 4.11 per cent. The losses were £29,829, giving a ratio 53.77. The outlook was very encouraging. He referred with regret to the death of Mr David Baxter, who had been identified with the company since its formation, having served 27 years as a director. Messrs J. Reid and D. Haynes were re-elected directors, and a minute recording the death of Mr D. Baxter was ordered fa be forwarded to the bereaved widow.